In the wake of the recent insider trading scandal where
confidential Australian Bureau of Statistics (ABS)
data was allegedly used to trade on foreign exchange derivative
contracts, ASIC has warned that it will pursue insider trading of
foreign exchange and other derivatives contracts and is cracking
down on leaking price sensitive information.
ASIC's warning and the recent ABS insider trading case serve
as a timely reminder that insider trading prohibitions extend
beyond shares to all 'financial products', insider trading
is vigilantly pursued and those involved face severe penalties.
In this Alert Partner Michael Hansel and Associate Katherine
Hammond discuss the recent ABS case, the laws and penalties
relating to insider trading and the vigilant enforcement action by
ASIC.
